February 8, 2002
To: All Member Banks and Others Concerned in the Third Federal Reserve District
Attention: Chief Executive Officers and Compliance Officers
Subject: FINAL RULE THAT ADOPTS AMENDMENTS TO REGULATION C
On February 7, 2002, the Federal Reserve Board published revisions to its Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). The Board approved the revisions at its meeting on January 23, 2002. The final rule:
Effective Date: This rule is effective on January 1, 2003. Compliance is mandatory for collection of data that begins on January 1, 2003, which is to be submitted to supervisory agencies no later than March 1, 2004.
Additional Information: A copy of the final rule and staff interpretation are attached (156 KB, 74 pages). For additional information, contact the Regulations Assistance Unit at this Reserve Bank at (215) 574-6568 or John C. Wood, Counsel, Kathleen C. Ryan, Senior Attorney, or Dan S. Sokolov, Attorney, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C., at (202) 452-3667 or 452-2412.
Attachment: View the attachment (12 KB, 1 page).